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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$63,344
Monthly savings required$501

How much will it cost to send your child to Indiana University Bloomington in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $253,377.11 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $501.43 into a 529 or other college savings plan earning and after tax or tax exempt return of 7% will be necessary to achieve this balance.

Assumptions

Current Annual Cost$24,427.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $501.43 $0.00 $0.00 $501.43
2 $501.43 $501.43 $0.00 $2.84 $1,005.70
3 $1,005.70 $501.43 $0.00 $5.69 $1,512.82
4 $1,512.82 $501.43 $0.00 $8.55 $2,022.80
5 $2,022.80 $501.43 $0.00 $11.44 $2,535.67
6 $2,535.67 $501.43 $0.00 $14.34 $3,051.44
7 $3,051.44 $501.43 $0.00 $17.25 $3,570.12
8 $3,570.12 $501.43 $0.00 $20.19 $4,091.74
9 $4,091.74 $501.43 $0.00 $23.14 $4,616.31
10 $4,616.31 $501.43 $0.00 $26.10 $5,143.84
11 $5,143.84 $501.43 $0.00 $29.08 $5,674.35
12 $5,674.35 $501.43 $0.00 $32.08 $6,207.86
13 $6,207.86 $501.43 $0.00 $35.10 $6,744.39
14 $6,744.39 $501.43 $0.00 $38.13 $7,283.95
15 $7,283.95 $501.43 $0.00 $41.18 $7,826.56
16 $7,826.56 $501.43 $0.00 $44.25 $8,372.24
17 $8,372.24 $501.43 $0.00 $47.34 $8,921.01
18 $8,921.01 $501.43 $0.00 $50.44 $9,472.88
19 $9,472.88 $501.43 $0.00 $53.56 $10,027.87
20 $10,027.87 $501.43 $0.00 $56.70 $10,586.00
21 $10,586.00 $501.43 $0.00 $59.85 $11,147.28
22 $11,147.28 $501.43 $0.00 $63.03 $11,711.74
23 $11,711.74 $501.43 $0.00 $66.22 $12,279.39
24 $12,279.39 $501.43 $0.00 $69.43 $12,850.25
25 $12,850.25 $501.43 $0.00 $72.66 $13,424.34
26 $13,424.34 $501.43 $0.00 $75.90 $14,001.67
27 $14,001.67 $501.43 $0.00 $79.17 $14,582.27
28 $14,582.27 $501.43 $0.00 $82.45 $15,166.15
29 $15,166.15 $501.43 $0.00 $85.75 $15,753.33
30 $15,753.33 $501.43 $0.00 $89.07 $16,343.83
31 $16,343.83 $501.43 $0.00 $92.41 $16,937.67
32 $16,937.67 $501.43 $0.00 $95.77 $17,534.87
33 $17,534.87 $501.43 $0.00 $99.14 $18,135.44
34 $18,135.44 $501.43 $0.00 $102.54 $18,739.41
35 $18,739.41 $501.43 $0.00 $105.96 $19,346.80
36 $19,346.80 $501.43 $0.00 $109.39 $19,957.62
37 $19,957.62 $501.43 $0.00 $112.84 $20,571.89
38 $20,571.89 $501.43 $0.00 $116.32 $21,189.64
39 $21,189.64 $501.43 $0.00 $119.81 $21,810.88
40 $21,810.88 $501.43 $0.00 $123.32 $22,435.63
41 $22,435.63 $501.43 $0.00 $126.85 $23,063.91
42 $23,063.91 $501.43 $0.00 $130.41 $23,695.75
43 $23,695.75 $501.43 $0.00 $133.98 $24,331.16
44 $24,331.16 $501.43 $0.00 $137.57 $24,970.16
45 $24,970.16 $501.43 $0.00 $141.18 $25,612.77
46 $25,612.77 $501.43 $0.00 $144.82 $26,259.02
47 $26,259.02 $501.43 $0.00 $148.47 $26,908.92
48 $26,908.92 $501.43 $0.00 $152.15 $27,562.50
49 $27,562.50 $501.43 $0.00 $155.84 $28,219.77
50 $28,219.77 $501.43 $0.00 $159.56 $28,880.76
51 $28,880.76 $501.43 $0.00 $163.30 $29,545.49
52 $29,545.49 $501.43 $0.00 $167.05 $30,213.97
53 $30,213.97 $501.43 $0.00 $170.83 $30,886.23
54 $30,886.23 $501.43 $0.00 $174.64 $31,562.30
55 $31,562.30 $501.43 $0.00 $178.46 $32,242.19
56 $32,242.19 $501.43 $0.00 $182.30 $32,925.92
57 $32,925.92 $501.43 $0.00 $186.17 $33,613.52
58 $33,613.52 $501.43 $0.00 $190.06 $34,305.01
59 $34,305.01 $501.43 $0.00 $193.97 $35,000.41
60 $35,000.41 $501.43 $0.00 $197.90 $35,699.74
61 $35,699.74 $501.43 $0.00 $201.85 $36,403.02
62 $36,403.02 $501.43 $0.00 $205.83 $37,110.28
63 $37,110.28 $501.43 $0.00 $209.83 $37,821.54
64 $37,821.54 $501.43 $0.00 $213.85 $38,536.82
65 $38,536.82 $501.43 $0.00 $217.89 $39,256.14
66 $39,256.14 $501.43 $0.00 $221.96 $39,979.53
67 $39,979.53 $501.43 $0.00 $226.05 $40,707.01
68 $40,707.01 $501.43 $0.00 $230.16 $41,438.60
69 $41,438.60 $501.43 $0.00 $234.30 $42,174.33
70 $42,174.33 $501.43 $0.00 $238.46 $42,914.22
71 $42,914.22 $501.43 $0.00 $242.64 $43,658.29
72 $43,658.29 $501.43 $0.00 $246.85 $44,406.57
73 $44,406.57 $501.43 $0.00 $251.08 $45,159.08
74 $45,159.08 $501.43 $0.00 $255.34 $45,915.85
75 $45,915.85 $501.43 $0.00 $259.61 $46,676.89
76 $46,676.89 $501.43 $0.00 $263.92 $47,442.24
77 $47,442.24 $501.43 $0.00 $268.25 $48,211.92
78 $48,211.92 $501.43 $0.00 $272.60 $48,985.95
79 $48,985.95 $501.43 $0.00 $276.97 $49,764.35
80 $49,764.35 $501.43 $0.00 $281.37 $50,547.15
81 $50,547.15 $501.43 $0.00 $285.80 $51,334.38
82 $51,334.38 $501.43 $0.00 $290.25 $52,126.06
83 $52,126.06 $501.43 $0.00 $294.73 $52,922.22
84 $52,922.22 $501.43 $0.00 $299.23 $53,722.88
85 $53,722.88 $501.43 $0.00 $303.76 $54,528.07
86 $54,528.07 $501.43 $0.00 $308.31 $55,337.81
87 $55,337.81 $501.43 $0.00 $312.89 $56,152.13
88 $56,152.13 $501.43 $0.00 $317.49 $56,971.05
89 $56,971.05 $501.43 $0.00 $322.12 $57,794.60
90 $57,794.60 $501.43 $0.00 $326.78 $58,622.81
91 $58,622.81 $501.43 $0.00 $331.46 $59,455.70
92 $59,455.70 $501.43 $0.00 $336.17 $60,293.30
93 $60,293.30 $501.43 $0.00 $340.91 $61,135.64
94 $61,135.64 $501.43 $0.00 $345.67 $61,982.74
95 $61,982.74 $501.43 $0.00 $350.46 $62,834.63
96 $62,834.63 $501.43 $0.00 $355.28 $63,691.34
97 $63,691.34 $501.43 $0.00 $360.12 $64,552.89
98 $64,552.89 $501.43 $0.00 $364.99 $65,419.31
99 $65,419.31 $501.43 $0.00 $369.89 $66,290.63
100 $66,290.63 $501.43 $0.00 $374.82 $67,166.88
101 $67,166.88 $501.43 $0.00 $379.77 $68,048.08
102 $68,048.08 $501.43 $0.00 $384.75 $68,934.26
103 $68,934.26 $501.43 $0.00 $389.76 $69,825.45
104 $69,825.45 $501.43 $0.00 $394.80 $70,721.68
105 $70,721.68 $501.43 $0.00 $399.87 $71,622.98
106 $71,622.98 $501.43 $0.00 $404.97 $72,529.38
107 $72,529.38 $501.43 $0.00 $410.09 $73,440.90
108 $73,440.90 $501.43 $0.00 $415.25 $74,357.58
109 $74,357.58 $501.43 $0.00 $420.43 $75,279.44
110 $75,279.44 $501.43 $0.00 $425.64 $76,206.51
111 $76,206.51 $501.43 $0.00 $430.88 $77,138.82
112 $77,138.82 $501.43 $0.00 $436.15 $78,076.40
113 $78,076.40 $501.43 $0.00 $441.46 $79,019.29
114 $79,019.29 $501.43 $0.00 $446.79 $79,967.51
115 $79,967.51 $501.43 $0.00 $452.15 $80,921.09
116 $80,921.09 $501.43 $0.00 $457.54 $81,880.06
117 $81,880.06 $501.43 $0.00 $462.96 $82,844.45
118 $82,844.45 $501.43 $0.00 $468.41 $83,814.29
119 $83,814.29 $501.43 $0.00 $473.90 $84,789.62
120 $84,789.62 $501.43 $0.00 $479.41 $85,770.46
121 $85,770.46 $501.43 $0.00 $484.96 $86,756.85
122 $86,756.85 $501.43 $0.00 $490.54 $87,748.82
123 $87,748.82 $501.43 $0.00 $496.14 $88,746.39
124 $88,746.39 $501.43 $0.00 $501.78 $89,749.60
125 $89,749.60 $501.43 $0.00 $507.46 $90,758.49
126 $90,758.49 $501.43 $0.00 $513.16 $91,773.08
127 $91,773.08 $501.43 $0.00 $518.90 $92,793.41
128 $92,793.41 $501.43 $0.00 $524.67 $93,819.51
129 $93,819.51 $501.43 $0.00 $530.47 $94,851.41
130 $94,851.41 $501.43 $0.00 $536.30 $95,889.14
131 $95,889.14 $501.43 $0.00 $542.17 $96,932.74
132 $96,932.74 $501.43 $0.00 $548.07 $97,982.24
133 $97,982.24 $501.43 $0.00 $554.01 $99,037.68
134 $99,037.68 $501.43 $0.00 $559.97 $100,099.08
135 $100,099.08 $501.43 $0.00 $565.97 $101,166.48
136 $101,166.48 $501.43 $0.00 $572.01 $102,239.92
137 $102,239.92 $501.43 $0.00 $578.08 $103,319.43
138 $103,319.43 $501.43 $0.00 $584.18 $104,405.04
139 $104,405.04 $501.43 $0.00 $590.32 $105,496.79
140 $105,496.79 $501.43 $0.00 $596.49 $106,594.71
141 $106,594.71 $501.43 $0.00 $602.70 $107,698.84
142 $107,698.84 $501.43 $0.00 $608.94 $108,809.21
143 $108,809.21 $501.43 $0.00 $615.22 $109,925.86
144 $109,925.86 $501.43 $0.00 $621.54 $111,048.83
145 $111,048.83 $501.43 $0.00 $627.89 $112,178.15
146 $112,178.15 $501.43 $0.00 $634.27 $113,313.85
147 $113,313.85 $501.43 $0.00 $640.69 $114,455.97
148 $114,455.97 $501.43 $0.00 $647.15 $115,604.55
149 $115,604.55 $501.43 $0.00 $653.64 $116,759.62
150 $116,759.62 $501.43 $0.00 $660.18 $117,921.23
151 $117,921.23 $501.43 $0.00 $666.74 $119,089.40
152 $119,089.40 $501.43 $0.00 $673.35 $120,264.18
153 $120,264.18 $501.43 $0.00 $679.99 $121,445.60
154 $121,445.60 $501.43 $0.00 $686.67 $122,633.70
155 $122,633.70 $501.43 $0.00 $693.39 $123,828.52
156 $123,828.52 $501.43 $0.00 $700.14 $125,030.09
157 $125,030.09 $501.43 $0.00 $706.94 $126,238.46
158 $126,238.46 $501.43 $0.00 $713.77 $127,453.66
159 $127,453.66 $501.43 $0.00 $720.64 $128,675.73
160 $128,675.73 $501.43 $0.00 $727.55 $129,904.71
161 $129,904.71 $501.43 $0.00 $734.50 $131,140.64
162 $131,140.64 $501.43 $0.00 $741.49 $132,383.56
163 $132,383.56 $501.43 $0.00 $748.52 $133,633.51
164 $133,633.51 $501.43 $0.00 $755.58 $134,890.52
165 $134,890.52 $501.43 $0.00 $762.69 $136,154.64
166 $136,154.64 $501.43 $0.00 $769.84 $137,425.91
167 $137,425.91 $501.43 $0.00 $777.03 $138,704.37
168 $138,704.37 $501.43 $0.00 $784.25 $139,990.05
169 $139,990.05 $501.43 $0.00 $791.52 $141,283.00
170 $141,283.00 $501.43 $0.00 $798.83 $142,583.26
171 $142,583.26 $501.43 $0.00 $806.19 $143,890.88
172 $143,890.88 $501.43 $0.00 $813.58 $145,205.89
173 $145,205.89 $501.43 $0.00 $821.02 $146,528.34
174 $146,528.34 $501.43 $0.00 $828.49 $147,858.26
175 $147,858.26 $501.43 $0.00 $836.01 $149,195.70
176 $149,195.70 $501.43 $0.00 $843.57 $150,540.70
177 $150,540.70 $501.43 $0.00 $851.18 $151,893.31
178 $151,893.31 $501.43 $0.00 $858.83 $153,253.57
179 $153,253.57 $501.43 $0.00 $866.52 $154,621.52
180 $154,621.52 $501.43 $0.00 $874.25 $155,997.20
181 $155,997.20 $501.43 $0.00 $882.03 $157,380.66
182 $157,380.66 $501.43 $0.00 $889.85 $158,771.94
183 $158,771.94 $501.43 $0.00 $897.72 $160,171.09
184 $160,171.09 $501.43 $0.00 $905.63 $161,578.15
185 $161,578.15 $501.43 $0.00 $913.59 $162,993.17
186 $162,993.17 $501.43 $0.00 $921.59 $164,416.19
187 $164,416.19 $501.43 $0.00 $929.63 $165,847.25
188 $165,847.25 $501.43 $0.00 $937.72 $167,286.40
189 $167,286.40 $501.43 $0.00 $945.86 $168,733.69
190 $168,733.69 $501.43 $0.00 $954.04 $170,189.16
191 $170,189.16 $501.43 $0.00 $962.27 $171,652.86
192 $171,652.86 $501.43 $0.00 $970.55 $173,124.84
193 $173,124.84 $501.43 $0.00 $978.87 $174,605.14
194 $174,605.14 $501.43 $0.00 $987.24 $176,093.81
195 $176,093.81 $501.43 $0.00 $995.66 $177,590.90
196 $177,590.90 $501.43 $0.00 $1,004.12 $179,096.45
197 $179,096.45 $501.43 $0.00 $1,012.64 $180,610.52
198 $180,610.52 $501.43 $0.00 $1,021.20 $182,133.15
199 $182,133.15 $501.43 $0.00 $1,029.81 $183,664.39
200 $183,664.39 $501.43 $0.00 $1,038.47 $185,204.29
201 $185,204.29 $501.43 $0.00 $1,047.17 $186,752.89
202 $186,752.89 $501.43 $0.00 $1,055.93 $188,310.25
203 $188,310.25 $501.43 $0.00 $1,064.73 $189,876.41
204 $189,876.41 $501.43 $0.00 $1,073.59 $191,451.43
205 $191,451.43 $501.43 $0.00 $1,082.49 $193,035.35
206 $193,035.35 $501.43 $0.00 $1,091.45 $194,628.23
207 $194,628.23 $501.43 $0.00 $1,100.46 $196,230.12
208 $196,230.12 $501.43 $0.00 $1,109.51 $197,841.06
209 $197,841.06 $501.43 $0.00 $1,118.62 $199,461.11
210 $199,461.11 $501.43 $0.00 $1,127.78 $201,090.32
211 $201,090.32 $501.43 $0.00 $1,136.99 $202,728.74
212 $202,728.74 $501.43 $0.00 $1,146.26 $204,376.43
213 $204,376.43 $501.43 $0.00 $1,155.57 $206,033.43
214 $206,033.43 $501.43 $0.00 $1,164.94 $207,699.80
215 $207,699.80 $501.43 $0.00 $1,174.36 $209,375.59
216 $209,375.59 $501.43 $0.00 $1,183.84 $211,060.86
217 $211,060.86 $501.43 $58,786.49 $1,193.37 $153,969.17
218 $153,969.17 $501.43 $0.00 $870.56 $155,341.16
219 $155,341.16 $501.43 $0.00 $878.32 $156,720.91
220 $156,720.91 $501.43 $0.00 $886.12 $158,108.46
221 $158,108.46 $501.43 $0.00 $893.97 $159,503.86
222 $159,503.86 $501.43 $0.00 $901.86 $160,907.15
223 $160,907.15 $501.43 $0.00 $909.79 $162,318.37
224 $162,318.37 $501.43 $0.00 $917.77 $163,737.57
225 $163,737.57 $501.43 $0.00 $925.80 $165,164.80
226 $165,164.80 $501.43 $0.00 $933.87 $166,600.10
227 $166,600.10 $501.43 $0.00 $941.98 $168,043.51
228 $168,043.51 $501.43 $0.00 $950.14 $169,495.08
229 $169,495.08 $501.43 $61,725.81 $958.35 $109,229.05
230 $109,229.05 $501.43 $0.00 $617.60 $110,348.08
231 $110,348.08 $501.43 $0.00 $623.92 $111,473.43
232 $111,473.43 $501.43 $0.00 $630.29 $112,605.15
233 $112,605.15 $501.43 $0.00 $636.69 $113,743.27
234 $113,743.27 $501.43 $0.00 $643.12 $114,887.82
235 $114,887.82 $501.43 $0.00 $649.59 $116,038.84
236 $116,038.84 $501.43 $0.00 $656.10 $117,196.37
237 $117,196.37 $501.43 $0.00 $662.65 $118,360.45
238 $118,360.45 $501.43 $0.00 $669.23 $119,531.11
239 $119,531.11 $501.43 $0.00 $675.85 $120,708.39
240 $120,708.39 $501.43 $0.00 $682.50 $121,892.32
241 $121,892.32 $501.43 $64,812.10 $689.20 $58,270.85
242 $58,270.85 $501.43 $0.00 $329.47 $59,101.75
243 $59,101.75 $501.43 $0.00 $334.17 $59,937.35
244 $59,937.35 $501.43 $0.00 $338.89 $60,777.67
245 $60,777.67 $501.43 $0.00 $343.65 $61,622.75
246 $61,622.75 $501.43 $0.00 $348.42 $62,472.60
247 $62,472.60 $501.43 $0.00 $353.23 $63,327.26
248 $63,327.26 $501.43 $0.00 $358.06 $64,186.75
249 $64,186.75 $501.43 $0.00 $362.92 $65,051.10
250 $65,051.10 $501.43 $0.00 $367.81 $65,920.34
251 $65,920.34 $501.43 $0.00 $372.72 $66,794.49
252 $66,794.49 $501.43 $0.00 $377.67 $67,673.59
253 $67,673.59 $0.00 $68,052.71 $382.64 $3.52